Former Simpson Grierson partner Peter Stubbs has been appointed as an Independent Director to Wealthpoint. The move to add an independent voice to the board has been planned for some time, says chairman David Gyde, and reflects the increasing complexity of the business as the co-operative grows its member offering.
In the past 12 months, Wealthpoint has set up a general insurance brokerage, launched a range of risk adjusted investment model portfolios and has applied for a DIMS license - all on top of meeting existing regulatory responsibilities as FAP license holder for almost 150 financial advisers.
"As an adviser group with a broad value proposition that covers all key advice lines, it’s imperative we have a similarly broad set of skills represented at board level," says Gyde.
"Peter has very strong governance experience on boards in a wide range of industries and his long career as a commercial lawyer provides us with exactly the key attributes we were looking for now."
Aside from his new role at Wealthpoint, Stubbs is also chairman of Rotorua Airport and independent chairman of both Waikato Local Authority Shared Services Limited and the Audit and Risk Committee of Waikato District Council.
Wealthpoint plans to bring on a second Independent Director and will start this process in late 2022.
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